BENEFITS OF PERFORMANCE REVIEW
Performance review per se is the important subset of the performance management process. Hence, success of performance management systems and processes highly depends on effective performance review. In fact, designing of effective performance review systems is winning halfway through managing the performance of employees. Some of the important benefits of performance review can be listed as under:
- Helps in strategic improvement of employees’ performance.
- Facilitates in compensation design and planning.
- Validates compensation increase or decrease (particularly in cases of incentives, etc.) in employee-specific cases.
- Validates decisions on promotion, demotion, transfer (with or without relocation), etc.
- Helps in ...
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